Add a Release ID

You can set up a Release ID An ID, unique by Bank, to identify bank-level Release settings, that can be assigned to merchants..

1. From the main menu bar, select Release Management.

   

   The Release Management frame opens.

   

2. Click the options menu icon, and then select Add New Release ID.

   

   The Add New Release ID dialog box opens.

   

3. Enter the details of the Release ID in the following fields:
   • Bank: From the drop-down list, select the Bank ID for the Release ID.

     The 4-digit unique Bank ID.

   • Release ID

     An ID, unique by Bank, to identify bank-level Release settings, that can be assigned to merchants.

     This may include the following special characters:

     • - (dash)
     • / (forward slash)
     • , (comma)
     • ( ) (parentheses)
     • (space)
   • Frequency

     The frequency at which the reserved funds will be released from the reserve account to the merchant’s DDA account. The value can be set either in a bank-level Release ID or as a merchant-level Release Setting.

     Select one of the following options from the drop-down list:

     • Daily: Releases funds back to the merchant once a day in the last ACH run.
     • Monthly: Releases funds back to the merchant once a month, in the last ACH run on the last processing day of the month.
   • Release

     This field and its adjacent drop-down list enable you to specify the dollar amount or percentage of funds that will be released from the reserve account.

     Select Amount or Percent from the drop-down list and enter the dollar or percentage amount in the adjacent field.

     Note: The amount or percentage of funds you are able to release or reserve may be controlled by your system administrator.

   • Reserve Floor

     The minimum threshold amount specified for the reserve account. Once the reserve balance reaches the Reserve Floor, no more reserve funds will be released. The value can be set either in a bank-level Release ID An ID, unique by Bank, to identify bank-level Release settings, that can be assigned to merchants. or as a merchant-level Release Setting.

     Note: A value entered in the Release Remaining Balance field must be greater than the Reserve Floor value.

   • Release Remaining Balance

     You would typically enter a value in this field if the Release field specifies a percentage (Percent) of funds to be released from the reserve account.

     Once the reserve balance drops below this Release Remaining Balance value, the remaining reserve balance amount is released at one time.

     Note: A value entered in the Release Remaining Balance field must be greater than the Reserve Floor value.

4. Click Submit.